MIRA
INFORM REPORT
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Report Date : |
17.09.2007 |
IDENTIFICATION DETAILS
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Name : |
NINGXIA
DUOWEITAIRUI PHARMACEUTICAL Co., Ltd. |
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Registered Office : |
Wangyuan
Development Zone, Yongning Country, |
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Country : |
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Date of Incorporation : |
January 21, 2000 |
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Com. Reg. No.: |
6400002202425 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Engaged in
manufacturing and selling livestock antibiotic.
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RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
name & address
NINGXIA DUOWEITAIRUI
PHARMACEUTICAL Co., Ltd.
WANGYUAN DEVELOPMENT ZONE, YONGNING COUNTRY,
TEL :
86 (0) 951-6149308
FAX :
86 (0) 951-6149106
EXECUTIVE SUMMARY
INCORPORATION DATE : JANUARY 21, 2000
REGISTRATION NO. : 6400002202425
REGISTERED LEGAL FORM : LIMITED LIABILITIES COMPANY
STAFF STRENGTH : 2,200
REGISTERED CAPITAL : CNY 14,080,000
BUSINESS LINE : MANUFACTURING
TURNOVER : (AS OF DEC. 31, 2006)
EQUITIES : (AS OF DEC. 31, 2006)
PAYMENT : AVERAGE
MARKET CONDITION : COMPETITIVE
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY
7.51746 = US1$
Adopted abbreviations:
ANS - amount not stated
NS - not stated
SC - subject company (the company inquired by you)
NA - not available
CNY -
SC was registered as a limited liabilities company at provincial Administration for Industry & Commerce (AIC - The official body of issuing and renewing business license) on January 21, 2000.
Company Status: Limited liabilities co. This form of business in PR
China is defined as a legal person. No more than fifty shareholders contribute its registered
capital jointly. Shareholders bear limited liability to the extent of
shareholding, and the co. is liable for its debts only to extent of its
total assets. The characteristics of this form of co. are as follows: Upon
the establishment of the co., an investment certificate is issued to the
each of shareholders. The board of directors is
comprised of three to thirteen members. The minimum registered capital
for a co. is CNY 30,000. Shareholders may take their capital
contributions in cash or by means of tangible assets or intangible assets
such as industrial property and non-patented technology. Cash contributed by all
shareholders must account for at least 30% of the registered capital. Existing shareholders have
pre-exemption right to purchase shares of the co. offered for sale by the
other shareholders and to subscribe for the newly increased registered
capital of the co.
SC’s registered business scope includes manufacturing and selling
raw material medicine (tartaric acid Tai Le Junsu, phosphoric acid Tai Le Junsu,
Tai Le Junsu), mixed medicine, medicinal powder; exporting its products and
technology; importing raw materials, machines, components and related
technology (excluding the items limited or prohibited by the state).
SC is mainly
engaged in manufacturing and selling livestock
antibiotic.
Mr. Wang Yi has been legal representative and chairman of SC since
January, 2000.
SC is known to have approx. 2,200 staff members at
present.
SC is currently operating at the above stated address, and this
address houses its operating office and factory in the industrial zone of
Ningxia. Our checks reveal that SC owns the total premise.
http://www.duowei.com.cn/ It is the website of its parent. The design is
professional and the content is well organized. At present it is both in
Chinese version.
No significant events or changes were found during our
checks with the local Administration for Industry and Commerce.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Wang Yi 68.892
Wang Jun 27.983
Wang Hongxia 3.125
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Legal representative and chairman:
Mr. Wang Yi, in his
Working Experience(s):
From 2000 to present Working in SC as chairman and legal representative.
SC is mainly
engaged in manufacturing and selling livestock
antibiotic.
SC sources its materials 100%
from domestic market. SC sells 40% of its products in domestic market, and 60%
to overseas market, mainly Southeast Asian market.
The buying terms of SC include Check, T/T and Credit of
30-60 days. The payment terms of SC include Check, T/T, L/C and Credit of 30-60
days.
SC has a factory in Ningxia, and in
Telephone Number: 010-82684966
Fax Number: 010- 82684961
SC is
not known to have any subsidiary at present.
Overall payment appraisal :
( ) Excellent (
) Good (X) Average (
) Fair ( ) Poor
( ) Not yet determined
The appraisal serves as a reference to reveal SC's payments habits and
ability to pay. It is based on the 3
weighed factors: Trade payment experience
(through current enquiry with SC's suppliers), our delinquent payment and our
debt collection record concerning SC.
Trade payment experience : SC did not
provide any name of trade/service suppliers and we have no other sources to
conduct the enquiry at present.
Delinquent
payment record : None in our database.
Debt collection record :No overdue amount owed by SC was placed to us for
collection within the last 6 years.
SC’s management
declined to release its bank details.
RATING EXPLANATIONS
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
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71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
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56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems
comparatively below average. |
Small |
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11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
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This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a composite
of weighted scores obtained from each of the major sections of this report. The
assessed factors and their relative weights (as indicated through %) are as
follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)